Euroins Insurance Group AD (EIG) has merged its subsidiary Euroins Health Assurance EAD into another subsidiary, DM EIG Re, formerly known as HDI Insurance.  

The merger aims to improve the insurance offerings of EIG in Bulgaria and will raise significant capital to exceed the solvency capital requirement, according to a press release on the Eurohold website.

After the merger, EIG will operate as three companies: Euroins Insurance AD, Euroins Life Insurance EAD and EIG Re EAD.

EIG boosted its income last year by 16.5 percent to $300.7 million, for a profit of $5.07 million, according to the release. The company said it expects income to reach $96.8 million by the end of this year.